Chinese domestic CRC market edges down slightly

Wednesday, 20 June 2018 16:51:34 (GMT+3)   |   Shanghai
       

During the week ending June 20, average cold rolled coil (CRC) prices in the Chinese domestic market have softened slightly, while transaction activity in the overall market has been at low-to-medium levels. Average cold rolled product prices in the local Chinese market are presented in the following table. 

During the given week, the escalation of trade tensions between the US and China has resulted in significant declines in ferrous metal futures prices in China, which in turn have exerted a negative impact on CRC prices in the domestic spot market. Meanwhile, the rainy season in the middle and lower reaches of the Yangtze river has negatively affected demand for CRC. It is thought that CRC prices in the Chinese domestic market will likely move down further in the coming week.

Product name

Spec.

Quality

City

Steel plant/origin

Price (RMB/mt)

Price ($/mt)

Weekly change (RMB/mt)

Thin CRC

1.0 mm x 1,250 mm x C

ST12

Shanghai

MaSteel

4,680

723

↓10

Tianjin

Tangshan Steel

4,610

713

0

Lecong

MaSteel

4,730

731

0

Average

 -

4,674

722

↓3

Thin CRS

1.0 mm x 1,250mm x 2,500 mm

ST12

Shanghai

Anshan Steel

4,700

726

↓20

Tianjin

Anshan Steel

4,780

739

0

Lecong

Anshan Steel

4,850

750

0

Average

 -

4,777

738

↓7

16 percent VAT is included in all prices and all prices are ex-warehouse.

$1 = 6.47 RMB


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